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Xerox (XRX) to Gain From Document Systems Buyout: Here's How

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Xerox Holdings Corporation XRX announced yesterday that it has snapped up California-based document solutions provider Document Systems. Financial terms of the deal have been kept under wraps.

The company has been on an acquisition spree to increase its penetration in existing markets. Document Systems is its third buyout in North America followed by Groupe CT (acquired last month) and Digitex (purchased in March 2020). Document Systems will now operate under the Xerox Business Solutions banner.

To Strengthen Foothold in the US SMB Market

The buyout is aimed at accelerating Xerox’s push into the small- and mid-size business (“SMB”) market through integrating the company’s portfolio of workplace solutions for SMBs with Document Systems' document management expertise. It will help Xerox provide solutions to SMBs that are focusing on automation, digitization and remote IT support amid the pandemic.

Joanne Collins Smee, chief commercial, SMB and channels officer at Xerox, said, “As part of Xerox Business Solutions (XBS), Document Systems' document management expertise will help us elevate the customer experience, improve productivity and power growth for SMBs."

Notably, Xerox’s shares have gained 30% over the past year, underperforming the 34.1% growth of the Zacks S&P 500 composite and the 65.6% rally of the industry it belongs to.

Xerox Holdings Corporation Price

Xerox Holdings Corporation Price
Xerox Holdings Corporation Price

Xerox Holdings Corporation price | Xerox Holdings Corporation Quote

Zacks Rank and Stocks to Consider

Xerox currently carries a Zacks Rank #3 (Hold).

Investors can consider stocks like Equifax EFX, Cross Country Healthcare CCRN and Charles River Associates CRAI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The long-term expected earnings per share (three to five years) growth rate for Equifax, Cross Country Healthcare and Charles River is pegged at 14%, 10.5% and 15.5%, respectively.

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Equifax, Inc. (EFX) : Free Stock Analysis Report

Charles River Associates (CRAI) : Free Stock Analysis Report

Xerox Holdings Corporation (XRX) : Free Stock Analysis Report

Cross Country Healthcare, Inc. (CCRN) : Free Stock Analysis Report

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